A new cryptocurrency whale has accumulated $1.34 billion worth of Ether over the past eight days, outpacing recent US spot Ether ETF inflows and fueling speculation about Ether's price trajectory amid upcoming inflation data.
The whale acquired 312,052 ETH across ten newly created wallets, indicating a significant institutional or high-net-worth investor position within the market.
The recent surge in demand comes as record-breaking US Ether ETF inflows, totaling $1 billion on Monday, highlight growing investor confidence in crypto assets, particularly Ether.
Experts suggest this accumulation could help push Ether closer to its previous all-time high of $4,890, which remains over 12% above current levels.
Analysts emphasize that the timing of this buying spree aligns with upcoming US Consumer price Index (CPI) and Producer price Index (PPI) reports, which are critical for monetary policy outlooks.
The CPI and PPI figures will influence expectations for the Federal Reserve’s September 17 interest rate decision, impacting both traditional markets and crypto sentiment.
market watchers note that if inflation exceeds expectations, investor appetite could weaken, potentially stalling Ether’s recent rally.
Javier Rodriguez-Alarcón, CIO at XBTO, explained that the rally fits ethereum’s typical behavior but cautioned it may pause without fresh catalysts.
He added that continued corporate treasury buying might enable Ether to test its prior all-time high amidst near-neutral volatility signals.
Meanwhile, CME Group’s FedWatch tool shows an 82% probability that the Federal Reserve will hold interest rates steady at the upcoming meeting.
Despite strong accumulation signals, aggressive profit-taking among short-term investors indicates some may expect a short-term pullback before further gains.
The recent activity underscores the evolving landscape of crypto and market dynamics ahead of critical macroeconomic indicators.
Understanding how large-scale ETH purchases intersect with traditional economic data provides insight into potential future trends in both CeFi and DeFi sectors.
As institutional interest grows and macroeconomic factors shape investor behavior, ethereum’s momentum could remain sensitive to these developments, making it a key asset to watch in the coming weeks.
